Price Control


Also found in: Dictionary, Thesaurus, Wikipedia.
Related to Price Control: price support, Price ceiling

Price Control

A government regulation limiting the percentage (or, rarely, dollar amount) by which a price for a good or service can change over a given period of time. Price controls have been used to combat inflation, though they are rarely successful. Price controls may also be utilized to protect a favored industry, and are used most commonly to provide a minimum price for agricultural products. See also: Wage control, Price ceiling, Price floor.
References in periodicals archive ?
During meeting, the DC said price control magistrates checked 2,264 shops out of which 581 shopkeepers were found selling commodities on high rates.
As a result, they have not been able to acquaint themselves with the laws and rules they need to know to perform their duties as price control magistrates.
Therefore Ofgem said it is seeking initial views from all stakeholders on issues such as the length of the price control, the approach to setting the cost of capital and the role of electricity distribution networks in enabling the low carbon transition more generally.
He said that price control will be directly monitored from markets through PITB vans which have also been directed to provide necessary help to the line departments in this regard.
He also directed to keep active price control magistrates for the monitoring of the prices of daily use items.
'The Giant management were able to show me several consumer goods (listed in the Festive Season Price Control Scheme), and I found out that the items with set ceiling prices were compliant.
According to the decision, the price control committee would have eight members, four each from the administration and the traders' bodies.
An increasing number of 'life-saving' medicines like the ones meant for treating cancer as well as medical devices are being brought under the ambit of price control. Presently, the government has capped the prices of 855 medicines, according to reports quoting chemicals ministry officials.
"But rather than wait for the next price control to be in place, firms which haven't already should return these unjustified profits to consumers as a matter of priority."
UK households are overpaying for their electricity following Ofgem-set price controls that have resulted in excess profits for distribution companies, a charity has said.
A spokesman of the city district government said here Monday that price control magistrates paid surprise visits to various markets, eatery shops, hotels and restaurants in Faisalabad and checked quality and sale of daily use items at 429 points.
Hours after Varela's victory was announced, he pledged to impose price controls on 22 basic foodstuffs including meat, rice, meat, and eggs, which is expected to help consumers save US$58 a month, but critics have remarked that it is ironic that a conservative, market-friendly candidate should resort to measures commonly associated with leftwing governments such as that of Venezuela.